JK Tyre & Industries announces that its subsidiary, JK Tornel, has agreed to sell 40,00,000 equity shares of Cavendish Industries Ltd. to SMMS Trust for ₹130.64 Crore. Cavendish Industries Ltd. will continue to be a subsidiary after the sale, according to the announcement made on November 19, 2025.
Sale of Cavendish Industries Shares
JK Tyre & Industries Ltd. has announced that its subsidiary, JK Tornel, S.A. de C.V., has entered into an agreement to sell a portion of its stake in Cavendish Industries Ltd. The buyer is SMMS Trust, a private trust established under the Indian Trusts Act, 1882.
Transaction Details
According to the agreement, JK Tornel will sell 40,00,000 equity shares of Cavendish Industries Ltd. The agreed-upon consideration for this transaction is ₹130.64 Crore.
Cavendish Industries Status
Post-sale, Cavendish Industries Ltd. will remain a subsidiary of JK Tyre & Industries Ltd. The transaction is expected to be completed by November 30, 2025.
Financial Impact of Sale
The income attributable to Cavendish Industries Ltd. is ₹3,990.85 Crore, representing 27.02% of consolidated income. The net worth attributable is ₹1,064.23 Crore, or 21.94% of consolidated net worth.
Source: BSE